It is one of the fundamentals of all the best esports betting sites, yet it is something that still remains something of a mystery to many of those that enjoy betting on esports. Have you ever wondered how companies come up with the latest esports betting odds?
The sheer number of tournaments there are nowadays, means that it is almost impossible for humans to assess and update all the different markets and odds available on a typical esports event, so something more advanced is required. This is where software like machine learning applications come into their own.
What Are Machine Learning Applications?
As the name suggests, machine learning is the process by the way a computer program can develop an algorithm that uses the data it collects to effectively predict what will happen in the future. This type of software is not just used for esports betting technology but serves a huge number of uses in other fields too.
For example, similar applications are used to help predict future weather patterns using the same process, triggering billions of data points to process and predict what the weather will do. In terms of AI betting predictions, a similar process is followed, only this time to come up with the odds for a typical esports market or event.
Data is fundamental for any betting industry, and one of the big advantages of esports is that its data is readily available and accessible. Companies like PandaScore, Oddin, and Sportsflare are just three that have taken this approach to formulate esports odds using AI betting predictions.
This is particularly important when companies like to offer Live Odds on sports events. The ever-changing nature of In-Play betting means that things can change in an instant. This is almost impossible for a human to assess, but machine learning applications and assess the data in real time and make adjustments to the odds extremely quickly to reflect the ever-changing nature of esports contests.
As PandaScore founder and CEO Flavien Guillocheau explained:
“Bookmakers are some of the most data-dependent companies out there. With esports tournaments and fantasy leagues becoming a more significant component of sportsbook offerings around the world, access to PandaScore’s abundance of real time esports odds and data is vital to all the bookmakers we work with. Our vision is to help esports grow by providing the data resources for any esports business.”
How Accurate Are AI Betting Predictions?
Of course, it is one thing to create software that claims it can use data to predict betting outcomes and help set odds, but the proof of the pudding so to speak is when the software is put to work in a real world setting.
The good news here for esports betting services is that in the real world, the predictive models have worked extremely well.
Data provided by Sportsflare based on predictions for a CS:GO map winner market revealed exceptionally accurate predictions that were very well calibrated with the actual outcomes of those games.
The net result of this is that sites like Unikrn betting can be sure that the odds that their Ai betting predictions software are churning out, are not only incredibly accurate but that over time, that accuracy will only improve as more data becomes available.
AI has a huge role to play in the future of esports. It can not only be used to predict outcomes of events and help formulate odds, but it can also be used to help track fraudulent play, catching people attempting to cheat before they have had the chance to claim any sort of reward from their activities.
In fact, AI has so many potential applications in the esports betting industry that we are only seeing the tip of the iceberg in terms of how it can be used to benefit the industry and ensure that both punters and esports betting companies can thrive together.